GP-Leds

As high interest rates, depressed values and fluctuating markets continue to squeeze investors, real estate secondaries is flourishing.

The placement agent, which takes a generalist approach to primary and secondaries advisory, has made a number of hires from advisers including Mercury, chief executive Paul Buckley tells Secondaries Investor.

Three major themes emerge in real estate secondaries as private equity investors and fund managers look for liquidity.

The investment bank is the latest adviser to tap peers for secondaries talent, with Moelis hiring Matt Wesley from Jefferies this year.

The deal marks the first CV for mid-market specialist Estancia Capital Partners, Secondaries Investor understands.

The €250m CV for biogas company Grupo Gestcompost is the largest transaction of its kind for Barcelona-headquartered Suma Capital.

The single-asset process will allow the firm to hold onto a software company which was part of a multi-asset deal it ran in 2019, Secondaries Investor has learned.

HarbourVest and Goldman Sachs are understood to be the lead buyers on the multi-asset continuation fund and a single-asset continuation fund, respectively.

Devrup Banerjee will spend the bulk of his time advising on GP-led deals at the Mizuho-owned investment bank, Secondaries Investor understands.

Andrew Ward joins Mike Catts as one of two partners in the firm’s New York office.